No Goofy
Mt K can now convert at the bottom of the cycle at the bottom price. In my mind that is a gift.
They loaned them 200 mil back in 2011 or when ever and there original value was about $1.60 i think.
The conversion price is now 10c or 2b shares if they fully convert. Now they can convert their 2b shares (if fully converted) to cold hard cash over the next 6-12 months timing with good announcements. These guys will probably triple their money, and that's not including any short positions that they probably had from the beginning. They have probably shorted this from 2 bucks.
I guess they still have to thank them even if its only by not calling the debt, which they would of done if the JARE weren't there.
All in all very positive and its game on.
Ann: Partial Conversion of Convertible Bonds and Appendix 3B, page-12
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